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The US non-public fairness agency is trying to rent monetary advisers to assist consider a sale of its 53.8% stake within the Mumbai-based firm, the individuals stated, asking to not be recognized because the matter is non-public. Different buyout companies and trade gamers have proven preliminary curiosity in shopping for KKR’s stake, the individuals stated.
Shares of the corporate, which is named JB Pharma, have climbed 68% previously 12 months, valuing the agency at simply over $3 billion.
Concerns are at an early stage and no last selections have been made, the individuals stated, including that KKR might select to not pursue a deal.
A consultant for KKR declined to remark, whereas JB Pharma didn’t instantly reply to a request for remark.
KKR purchased a controlling stake in JB Pharma in 2020 from the founding Mody household, together with making an open provide for an extra 26% stake.Established in 1976, JB Pharma produces a variety of prescription drugs in areas comparable to gastroenterology, hypertension, dermatology and diabetes, in accordance with its web site. It exports its tablets, capsules, lotions and different formulations to greater than 40 nations, together with the US.
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